Import and Export Prices Sink; Bloomberg Bemoans “Setback to Improving Inflation Data”

by Mike ‘Mish’ Shedlock
Mish Talk

Export prices sank 0.8% in August vs. the Econoday Consensus of -0.1%.

Amusingly, the entire range of exports predictions was -0.2% to +0.1%. On a percentage basis, the closest economist missed the mark by 300% and the consensus by 700%.

Import prices fell 0.2% vs. a consensus of -0.1% in a range of -0.4% to +0.2%. At least one economist got the number correct, and at least one economist was on Mars.

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